Macy’s, Inc. (NYSE:M) Shares Bought by Morgan Stanley


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Morgan Stanley increased its position in Macy’s, Inc. (NYSE:M) by 18.6% during the fourth quarter, Holdings Channel reports. The fund owned 3,785,748 shares of the company’s stock after purchasing an additional 593,000 shares during the quarter. Morgan Stanley’s holdings in Macy’s were worth $42,590,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Lombard Odier Asset Management USA Corp acquired a new stake in shares of Macy’s in the 4th quarter worth about $117,000. Nuveen Asset Management LLC increased its holdings in shares of Macy’s by 5.1% in the 4th quarter. Nuveen Asset Management LLC now owns 2,672,593 shares of the company’s stock worth $30,066,000 after acquiring an additional 130,534 shares during the period. Vesa Equity Investment S.a r.l. acquired a new position in Macy’s during the 4th quarter valued at about $14,001,000. North Fourth Asset Management LP acquired a new position in Macy’s during the 4th quarter valued at about $844,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Macy’s by 173.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 209,291 shares of the company’s stock valued at $2,355,000 after buying an additional 132,719 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

M has been the topic of several research analyst reports. Jefferies Financial Group raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Friday, December 18th. Credit Suisse Group raised their price objective on shares of Macy’s from $7.00 to $13.00 and gave the company an “underperform” rating in a research report on Tuesday, March 2nd. Telsey Advisory Group raised their price objective on shares of Macy’s from $10.00 to $14.00 and gave the company a “market perform” rating in a research report on Friday, February 19th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Macy’s from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, February 24th. Finally, Morgan Stanley raised their price objective on shares of Macy’s from $6.00 to $11.00 and gave the company an “underweight” rating in a research report on Thursday, February 25th. Six equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $9.61.

In related news, EVP John T. Harper sold 5,255 shares of the company’s stock in a transaction dated Wednesday, March 24th. The shares were sold at an average price of $16.25, for a total value of $85,393.75. Following the sale, the executive vice president now owns 36,539 shares of the company’s stock, valued at $593,758.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul C. Varga bought 33,115 shares of the stock in a transaction that occurred on Friday, February 26th. The stock was acquired at an average cost of $15.42 per share, for a total transaction of $510,633.30. Insiders have sold 6,112 shares of company stock valued at $100,826 in the last ninety days. 0.58% of the stock is owned by company insiders.

Macy’s stock opened at $15.97 on Thursday. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of -1.32 and a beta of 1.98. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.11 and a quick ratio of 0.33. Macy’s, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $22.30. The firm has a fifty day moving average price of $16.42 and a two-hundred day moving average price of $11.59.

Macy’s (NYSE:M) last released its earnings results on Tuesday, February 23rd. The company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.61. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.50 billion. Macy’s had a negative net margin of 19.91% and a negative return on equity of 8.21%. The business’s revenue was down 18.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.12 EPS. As a group, sell-side analysts expect that Macy’s, Inc. will post -2.9 earnings per share for the current year.

Macy’s Company Profile

Macy's, Inc, an omnichannel retail organization, operates stores, websites, and mobile applications under the Macy's, Bloomingdale's, and bluemercury brands. It sells a range of merchandise, including apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods.

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Institutional Ownership by Quarter for Macy`s (NYSE:M)

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